SHANGHAI—China’s Jiangling Motors Corp., which is 30%-owned by Ford Motor Co., will acquire Taiyuan Changan Heavy Truck Co., marking the U.S. car maker’s first entry into the world’s largest heavy-truck market.

Ford said Wednesday its Chinese affiliate will acquire the local heavy truck maker from China Changan Automobile Group and China South Industries Group Corp.

Ford didn’t disclose the financial terms of the deal, but a notice dated July 6 on the Chongqing United Assets and Equity Exchange, a local exchange for trading non-listed firms, showed that Taiyuan Changan’s parent companies are selling the firm for 270 million yuan ($42 million).